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The Standard

The Standard

Actuary - Employee Benefits

Actuary - Employee Benefits

Job Details
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Uploaded On
January 20, 2023
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Location
Portland, OR
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Remote?
No
Company Overview
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Headquarters
Portland, OR
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Number of Employees
3400
Estimated Number of Actuaries
111
Salary
$
128
k-$
188
k
Glassdoor Ratings
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Recommend to a Friend
80%
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Overall Score
3.9 / 5

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At The Standard, you’ll join a team focused on putting our customers first.

Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.

We offer a caring culture where you can make a real difference, every day.
 
Ready to reach your highest potential? Let’s work together.

Job Summary:

The Standard seeks a talented near FSA / FSA to join our Employee Benefits division. Our products for employer groups include long term disability, short term disability, group life and accidental death and dismemberment insurance, dental, vision, critical illness, and hospital indemnity products. You’ll have an opportunity to influence and have visibility with senior leadership within and outside of actuarial as you help drive the view of our products and results and help shape future decisions. You’ll be involved with the financials including putting together the financial statements and analyzing the results for our business unit. You will eventually get involved in presenting results to our business unit leadership.

We seek a strong individual who is influential and can work with and communicate effectively with other groups including Legal, Contracts, Underwriting and Sales. You will represent the actuarial point of view and be influential in understanding our products and results and identify and understand the drivers for those. Embodying a continuous improvement mindset you will keep an eye to process and help build out more effective processes and tools to help our team operate more effectively and efficiently.

You’ll have a keen eye for detail and will have the opportunity to help the team by reviewing the work of others. Understanding the big picture, your review work is critical as you evaluate trends and question results in preparation for presenting to our executive teams. 

Principal duties and responsibilities include:

  • Contribute to the preparation, review, and analysis of our financial statements following GAAP, statutory or tax reporting principles. 
  • Analyze financial results of the corporation and/or Employee Benefits division and identify drivers and trends in the profitability of our products. 
  • Analyze external economic and competitor data and trends to analyze the business to advise how we can better compete and be on the forefront of industry trends.
  • Communicate financial information to management to assist and influence corporate and divisional financial strategies.
  • Develop programs, reports, and tools using SAS to build out data structures and assess business.
  • Keep an eye to continuous improvement and identify ways to enhance and streamline our processes.
  • Keep abreast of regulatory issues to determine applicability to our reporting
  • Review the work of others to ensure quality and appropriateness of our analysis.

Qualifications Required:

  • Bachelor’s degree required. Advanced degree a plus.
  • Fellow of the Society of Actuaries {FSA} or near FSA (ASA).
  • Effective collaboration with actuarial and business line leaders to evaluate, understand and quantify trends and risk.
  • Advanced Excel skills with knowhow in VBA and writing macros.
  • Minimum of four years of progressively responsible actuarial experience.

Qualifications Desired:

  • Experience in our group products is preferred, such as: group Life, LTD, STD, etc.
  • Equivalent experience in one of our other product lines areas is a helpful alternative, such as: individual disability, individual annuities, or 401k retirement plans (DC) experience.
  • Mid to Large company experience with an understanding of how an insurance actuarial community works
  • Demonstrated expertise in accounting or financial analysis preferred.
  • Some experience with programming required.  SAS software experience strongly preferred, other languages such as Python may be sufficient.

Competencies You Possess:

  • Excellent organizational skills with strong attention to detail and ability to prioritize and drive results. 
  • Sensitivity to deadlines and time constraints.
  • Intellectual curiosity to dig beneath the surface to understand the story behind the numbers.
  • Ability to connect the dots of the impacts of upstream and downstream work to understand the impacts.
  • Understanding of materiality of analytical results and when to surface findings to others.
  • Transparent and consistent with high personal impact, easily establishing yourself as a trusted business partner.
  • Effective communication skills that instill confidence with internal and external audiences and ability to translate complex concepts into meaningful actionable information. 
  • Resourceful to build effective partnerships/coalitions across all areas of the organization with colleagues at all levels.
  • Low-ego, team-oriented, collaborative approach while at the same time being able to influence favorable outcomes.
  • Make informed recommendations and decisions through strong analytical, conceptual and critical thinking skills with a solutions-oriented mindset; and willingness and ability to handle opposing perspectives and gain consensus. 
  • Able to work effectively through complex problems with the ability to assess gaps and opportunities to inform strategy.
  • Driven to win: Pro-active and self-motivated, inspiring enthusiasm about the business and engaging others to create a positive culture with high morale and strong performance with a focus on excellence and continuous improvement while driving for results.

The Standard Culture

The Standard values a diverse and engaged workforce. You’ll find the environment provides complex intellectual challenges as well as excitement as you share in the success of the company’s forward moving plans. The Standard fosters innovation, builds collaboration, and pursues excellence.  You’ll experience an open and welcoming environment with authentic people who are thoughtful and intentional with high integrity.  You’ll find a very collaborative approach when it comes to planning and decision making.  You’ll have the independence to achieve results within the framework of the values and culture of the organization. In a culture that places high value on continuous improvement and possibilities, your ideas and insights regarding creative and innovative approaches are expected and encouraged.

The Company

Based in Portland Oregon with over 3,000 employees, The Standard is a leading provider of financial products and services. These include group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and vision insurance, absence management services, retirement plans products and services, individual annuities, and origination and servicing of fixed rate commercial mortgage loans.

#LI-Remote

Note: The Standard is required to provide a reasonable estimate of the salary for this role when hiring a Colorado resident. The salary for employees working in Colorado in this role is listed below. The Standard’s package also includes incentive plan participation and comprehensive benefits including medical, dental, vision, retirement, and paid time off.  

  • Please note, eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on various factors, including individual and organizational performance. 

Salary Range:

$127,750.00 - $187,500.00

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, drug test, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.

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Working at 

The Standard

The Standard is a financial services company that specializes in providing insurance, retirement, and investment solutions for individuals and businesses. With headquarters in Portland, Oregon, The Standard has been in operation since 1906, and has a strong reputation for its commitment to customer service and innovation. Working at The Standard means being part of a team that values diversity, inclusion, and collaboration. The company offers a range of career opportunities for individuals at all stages of their professional journey, from entry-level positions to senior leadership roles. The Standard is committed to providing its employees with the resources and support they need to grow and succeed in their careers. The Standard offers a comprehensive benefits package that includes medical, dental, and vision insurance, 401(k) matching, and paid time off. The company also offers a number of other unique benefits, including wellness programs, employee assistance programs, and an employee stock purchase plan. In addition to its commitment to its employees, The Standard is also committed to making a positive impact on society and the environment. The company has a strong corporate social responsibility program that focuses on supporting local communities, promoting sustainability, and fostering diversity and inclusion. If you are looking for a career in the financial services industry, The Standard is an excellent choice. The company is committed to its employees and customers, and is dedicated to making a positive impact on the world. With a supportive and collaborative work environment, competitive compensation and benefits packages, and opportunities for professional growth and development, The Standard is a great place to build a meaningful and rewarding career.

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